C.I.T. BANGALORE vs M/S.KING FISHERIES (P)LTD. — C.A. No. 6958/2001

Summary: C.A. No. 006958/2001 – CIT Bangalore v. M/S King Fisheries (P) Ltd. Outcome: The Supreme Court allowed the CIT's appeal on April 26, 2007, holding that King Fisheries—engaged in catching, purchasing, processing, and exporting fish—is not entitled to deduction under Section 80J of the Income Tax Act, 1961. The Court answered the referred question of law in the negative, favoring the Revenue and against the assessee. All prior orders from the High Court, Tribunal, and CIT(Appeals) were set aside, and the original Income Tax Officer's restrictive assessment was restored. This case analysis is maintained by casestatus.in based on publicly available court records.